Around October 2013, at the same time that state regulators began investigating the WCM777 offering, (WCM777) stopped depositing investor funds into their United States bank accounts, although the WCM777 offering continued.

Since October 2013, Defendants have raised more than $37 million from investors which has been deposited into their Hong Kong bank account.

Whether or not the appointed Receivership in the case will be able to recover the funds from Hong Kong is unclear, but that hasn’t stopped affiliates in Global Unity from proclaiming their opportunity is safe from US regulation.

Posted in the Facebook group “Leaders Online”, upon hearing about the SEC shutting down WCM777, Global Unity affiliates rushed to reassure affiliate investors that they were untouchable.

Global Unity affiliate investor Santi Fuentes writes,

Messages that arrive from Hong Kong of a group of leaders who have been talking with the new directive are positive and promising:-the team now manages the company from Hong Kong is doing so with much more professionalism than the previous team.

Total trust in the new policy according to which there has been. -Global Unity will not close, will continue its activity and will continue to pay according to the payment Plan.

Important from Hong Kong:

1. confirmed that the Kingdomtrade will not operate, and that if you have points in is page, will return to the ewallets or unitycards of each.

2. SEC is only for USA. As already known the company not operating currently in USA. The rest of the world continues its activity.

Exactly who is running Global Unity from Hong Kong is a mystery, but if I had to guess I’d say it’s the same Chinese backers Ming Xu was working with in WCM777 and its Kingdom777 predecessor.

On March 15th Ming Xu claimed to have “sold” Global Unity (WCM777’s third incarnation) to a “new buyer”. Other than some South American Ponzi pimps however, I haven’t seen anyone specifically tagged to the company on the Hong Kong side of things.

Xu also claimed that his partner in crime, Zhi “Tiger” Liu ran off with $30M of WCM777 affiliate investor funds. Liu’s whereabouts are currently unknown, however there’s a very real possibility he’s running or working directly with those running the Hong Kong backend of Global Unity.

If Xu is to be believed, Liu was obviously in control of a significant proportion of WCM777’s assets. Given that the SEC revealed Xu ‘is a signatory, either individually or as a co-signer, on all known bank accounts’, I’m guessing Liu was in control of the company’s Hong Kong accounts.

As was the case when Zeek Rewards was shutdown, it appears now we get to watch die-hard ex-WCM777 affiliates who, now that they’ve had a taste of fraudulent Ponzi returns, just can’t let go of the business model.

It took around six or seven months post Zeek Rewards for their die-hard pimps to let go, and I imagine a similar timeframe will take place here.

Meanwhile it’s interesting to note that the dialogue behind Global Unity has shifted from “we are not a Ponzi scheme” to “the SEC can’t touch us”.

When your biggest selling point is that you’re running a fraudulent investment opportunity outside of what you believe to be the jurisdiction of US securities regulators, it’s probably best to quit while you’re ahead.

Yesterday Phil Ming Xu was issued a summons to appear in the case the SEC have filed against him. I’m sure once he’s had time to digest the gravity of the charges laid against him he’ll be all too willing to give up the goods on his Hong Kong backers.

22 Comments on “Global Unity affiliates claim safety from SEC”

It’s more interesting to note WHERE did these “messages from HongKong” originated. Was this Fuentes the FIRST source? Or did he just got it from someone else?

SEC may only be in the US, but the FinCEN is world-wide… and has cooperation from around the world… Including Hong Kong. Profitable Sunrise claimed to have moved all its servers to Hong Kong… yet it was still closed through multi-national operation.

So the smart people would see the truth… and the fool will stay sheeples.

Patrick posted an update today with more info on the account closures. Looking at this update, it appears they will be working towards going after the folks who “purchased” WCM777 and threw the ball to HK.

A federal judge has frozen at least 54 bank or financial accounts the SEC has linked to WCM777, an alleged $65 million Ponzi- and pyramid scheme with domestic and offshore conduits.

Accused operator Ming Xu had “authority” over at least 16 of the accounts, according to court filings. Who controlled the others was not immediately clear.

I know in the Zeek case the Receivership recovered / is in talks with offshore payment processors. I think for a lot of them co-operation is in their best interests as they obviously transfer funds to and from the US.

The “North Korea” approach isn’t in the best interest of non-US banks or payment processors so why people think their stolen Ponzi funds would be safe is a bit of a mystery to me.

Mr. Jeff now has pictures being posted on social media as the CEO of Global-Unity.

World Capital Market had one Jeff associated,

Jeff Huang, VP of Strategic Acquisition

Jeff has ten years extensive experience in investment banking, equity research, fund management and public accounting. In China, he served as Vice President of the Bank of China International where he was responsible for the equity research department in its Shanghai Office.

His experience also includes China International Capital Corporation, the largest Chinese investment bank with biggest foreign investor of Morgan Stanley, as a Senior Associate; and Credit Lyonnais Securities Asia as a senior analyst in its China research team, which is ranked the best in Asia, covering H shares, China Red Chips and B shares.

Prior to his sell-side analyst experience, Jeff worked as a public accountant at Arthur Andersen. In US, his experience includes Portfolio Manager to manage a large cap value fund for Marshall School of Business, and Senior Consultant in a boutique California consulting firm, responsible for its Investment Banking Group and China Group.

He received his BS in Shanghai Jiao Tong University and MBA degree in Marshall School of Business, University of Southern California, with concentration in Finance. He is a CPA in China and a level II CFA candidate.

One and the same? Most likely – if so, it shows PMX still has his hand under the pie.

Reporter came to the office in China, and found WangTong Website’s “top representative in China” Ang Zhao. Zhao however, replied “Top rep? Just a friend. I’m not employed by him. He asked me and asked me, and I acquiesced, and put his company name out.” Zhao is a manager at China Galaxy Investments.

Roberto Molinari “the templar” http://i.imgur.com/EdT04NT.jpg is claiming that the SEC is going only behind PMX and WCM777, Global Unity is another company with new owners and out of the SEC jurisdiction

This is very reminiscent of the end of Ad Surf Daily, when it splintered into various sub scams and clones like Ad View Global and the rest, some directly involving Bowdoin, and some involving those around it. Bowdoin himself got the idea from 12DailyPro, yet another autosurf that he was a part of.

Exactly, always saying all their scams are revolutions in the industry, they only change the facade, one year is the revolution in the forex market, the next year are sure bets, the next cloud servers, ganoderma, VoIP… and they are always market killers.

And when their revolutions fail they have these clowns to calm the victims and try to contain their demands with more lies.

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